Businessman offers to buy cinema building for 10 per cent above market rate

A CRYSTAL PALACE businessman has offered to buy the former cinema building at 25 Church Road for ten per cent MORE than its current market value – but has been turned down.

The building is currently owned by KICC (Kingsway International Christian Centre) which is set to make a fresh application to use the building as a church but with but with community use thrown in this time around.

The businessman – who has asked not to be named – said: “We did instruct a couple of estate agents to act on our behalf. “Unfortunately KICC didn’t want to engage into dialogue.

“And I personally went to their open door event and talked to one of KICC senior representatives where I verbally offered to pay 10pc above market rate for this glamorous building.

“Our aim is to bring the building to its former glory and screen science, arthouse, kids and blockbuster movies” he added.

(Note: The businessman, whose identity is known to News From Crystal Palace, is NOT a property developer).

This article was first published on 22 October 2014 in News from Crystal Palace. Reproduced with permission from and copyright Jerry Green – Author

About Cinema Campaign

The Picture Palace Campaign was set up on 24 June 2009, after a group of local residents, traders and ward councillors got together at the Royal Albert. The catalyst was the secret sale of the Gala bingo hall, 25 Church Road (originally built as the Rialto Cinema), to Kingsway International Christian Centre (KICC) a religious charity, which narrowly outbid independent cinema operator City Screen which runs Picturehouse Cinemas in Brixton, Clapham, Greenwich, Hackney and elsewhere in the UK.